Deduction; gross receipts tax; newspaper sales.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Deduction; gross receipts tax; newspaper sales.

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Receipts from selling newspapers, except from selling advertising space, may be deducted from gross receipts.

History: 1953 Comp., § 72-16A-14.19, enacted by Laws 1969, ch. 144, § 54.

ANNOTATIONS

Effective dates. — Laws 1969, ch. 144, § 68 made Laws 1969, ch. 144, § 54 effective July 1, 1969.

Advertising inserts purchased by a New Mexico retailer from out-of-state advertising coordinators were not "newspapers" within the meaning of this section. Phillips Mercantile Co. v. N.M. Taxation & Revenue Dep't, 1990-NMCA-006, 109 N.M. 487, 786 P.2d 1221.

Am. Jur. 2d, A.L.R. and C.J.S. references. — What constitutes newspapers, magazines, periodicals, or the like, under sales or use tax law exemption, 25 A.L.R.4th 750.


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